CPI inflation decreases further to 11.8 percent in May

ISLAMABAD (APP) - The Consumer Price Index (CPI)-based inflation came down to 11.8 percent during the month of May 2024 as compared to 17.3 percent recorded during April 2024, the Pakistan Bureau of Statistics (PBS) reported Monday.

According to PBS data, the CPI based inflation during the same month of last year was recorded at 38.0% (May 2023).

On month-on-month (MoM) basis, it decreased to 3.2% in May 2024 as compared to a decrease of 0.4 in the previous month and an increase of 1.6% in May 2023.

According to data, CPI inflation Urban, increased to 14.3% on year-on-year (YoY) basis in May 2024 as compared to an increase of 19.4% in the previous month and 35.1% in May 2023. On month-on-month basis, it decreased to 2.8% in May 2024 as compared to a decrease of 0.1% in the previous month and an increase of 1.5% in May 2023.

CPI inflation Rural, increased to 8.2% on year-on-year basis in May 2024 as compared to an increase of 14.5% in the previous month and 4.2% in May 2023. On month-on-month basis, it decreased to 3.9% in May 2024 as compared to a decrease of 0.9% in the previous month and an increase of 1.7% in May 2023.

The Sensitive Price Indicator (SPI) inflation on YoY increased to 15.3% in May 2024 as compared to an increase of 21.6% a month earlier and 43.0% in May 2023. On MoM basis, it decreased by 4.0% in May 2024 as compared to a decrease of 0.7% a month earlier and an increase of 1.3% in May 2023.

The Wholesale Price Index (WPI) inflation on YoY basis increased to 9.9% in May 2024 as compared to an increase of 13.9% a month earlier and an increase of 32.8% in May 2023. On MoM basis, it decreased by 2.5% in May 2024 as compare to a decrease of 0.7% in the previous month and an increase of 1.0% in corresponding month of last year i.e. May 2023.

The urban core inflation, measured by non-food non-energy, increased to 12.3% on (YoY) basis in May 2024 as compared to an increase of 13.1% in the previous month and 20.0% in May 2023. On (MoM) basis, it increased by 0.4% in May 2024 as compared to an increase of 2.1% in previous month, and an increase of 1.2% in corresponding month of last year i.e. May, 2023.

The rural core inflation, measured by non-food non-energy increased to 17.0% on (YoY) basis in May 2024 as compared to an increase of 19.3% in the previous month and 26.9% in May 2023. On (MoM) basis, it increased by 0.5% in May 2024 as compared to an increase of 2.0% in previous month, and an increase of 2.5% in corresponding month of last year i.e. May 2023.